Ghana’s currency, the Cedi has suffered a record fall against the U.S dollar, other major foreign currencies and has called on many world economists to react to it. The latest to react is the UK’s economist, Charlie Robertson.
The cedi has depreciated by 8.6 percent this year which represents the highest among over 140 currencies tracked by financial experts.
The cedi which has depreciated by 8.6 percent this year according to research says, it is the highest among over 140 currencies tracked by financial experts in the world.
According to the renowned economist, the Ghana cedi in the last few has become the cheapest in Africa based on the real effective rate model in the world.
He shared this on his Twitter account on Tuesday, 12th March, 2019.
He captioned it with a statistic: “#Ghana’s currency in the last few minutes has just become the cheapest in Africa – (at GHS5.745/$) – based on our real effective exchange rate model. Despite a current account covered by FDI and double-digit interest rates #cedi”